Traders Purchase Large Volume of Accenture Call Options (NYSE:ACN)

Accenture PLC (NYSE:ACNGet Free Report) was the recipient of some unusual options trading activity on Wednesday. Stock traders purchased 16,951 call options on the stock. This represents an increase of 22% compared to the average daily volume of 13,892 call options.

Accenture Stock Up 2.7%

NYSE ACN opened at $164.01 on Friday. Accenture has a 12 month low of $155.82 and a 12 month high of $324.00. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.16. The stock has a market cap of $109.14 billion, a PE ratio of 13.43, a P/E/G ratio of 1.51 and a beta of 1.08. The stock’s 50 day moving average is $191.36 and its 200 day moving average is $231.76.

Accenture (NYSE:ACNGet Free Report) last released its quarterly earnings data on Friday, March 20th. The information technology services provider reported $2.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.84 by $0.09. Accenture had a net margin of 10.61% and a return on equity of 26.33%. The firm had revenue of $18.04 billion for the quarter, compared to analysts’ expectations of $17.80 billion. During the same quarter last year, the business posted $2.82 earnings per share. The company’s revenue for the quarter was up 7.8% compared to the same quarter last year. Research analysts predict that Accenture will post 13.87 EPS for the current fiscal year.

Accenture Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Thursday, April 9th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date is Thursday, April 9th. Accenture’s payout ratio is currently 53.40%.

Insider Activity at Accenture

In related news, CEO Atsushi Egawa sold 4,872 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The stock was sold at an average price of $177.14, for a total value of $863,026.08. Following the sale, the chief executive officer owned 12,802 shares in the company, valued at $2,267,746.28. This represents a 27.57% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 0.02% of the stock is currently owned by corporate insiders.

Institutional Trading of Accenture

A number of large investors have recently added to or reduced their stakes in ACN. Board of the Pension Protection Fund purchased a new position in Accenture in the fourth quarter worth about $27,000. Laurel Wealth Advisors LLC bought a new stake in shares of Accenture in the 4th quarter valued at approximately $27,000. McMillan Office Inc. bought a new position in shares of Accenture during the 4th quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in Accenture during the 4th quarter valued at $27,000. Finally, Triumph Capital Management bought a new stake in Accenture in the third quarter worth $26,000. Institutional investors own 75.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ACN. TD Cowen cut their target price on Accenture from $282.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 16th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Accenture from $280.00 to $230.00 and set a “hold” rating on the stock in a research note on Friday, March 6th. Piper Sandler set a $282.00 price objective on shares of Accenture in a research report on Thursday, March 5th. Truist Financial decreased their target price on shares of Accenture from $317.00 to $260.00 and set a “buy” rating for the company in a report on Tuesday, March 10th. Finally, Robert W. Baird cut their price target on shares of Accenture from $330.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, March 20th. Seventeen equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.50.

Get Our Latest Analysis on Accenture

Accenture Company Profile

(Get Free Report)

Accenture is a global professional services company that provides a broad range of services and solutions in strategy, consulting, digital, technology and operations. The firm works with organizations across industries to design and implement business transformation programs, deploy and manage enterprise technology, optimize operations, and develop customer and digital experiences. Its offerings encompass management and technology consulting, systems integration, application and infrastructure services, cloud migration and managed services, as well as security and analytics capabilities.

The company delivers industry- and function-specific solutions, combining consulting expertise with proprietary tools, platforms and partnerships with major technology vendors.

Further Reading

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